Business | Automotives

Peugeot Citroen writes off €4.7b

Majority of charge related to group’s auto business

  • AFP
  • Published: 14:51 February 8, 2013
  • Gulf News

Paris: Embattled French auto group PSA Peugeot Citroen announced a write-off of €4.7 billion ($6.29 billion, Dh23.16) for 2012 due to an extremely difficult European market but said debt and cash targets for the year had been met.

The large majority of the charge pertained to the group’s auto business, the company said in a statement, but “neither solvability nor liquidity” were affected.

Gulf News
Quick Access

  1. Markets

  2. Economy

  3. Property

  4. Aviation

Business Top Stories

  1. Should CVs with typos be thrown in the bin?

  2. Indian presses ahead with banking the unbanked

  3. GCC banks return to double-digit profit growth

  4. So much heat is being expended over solar power

  5. Tech giants don’t have the monopoly on smarts